Arraignment is set for man charged in investment scam

Tuesday, Feb. 1, 2000 | 10:57 a.m.

SUN CAPITAL BUREAU

CARSON CITY -- A Justice Court arraignment has been set for Feb. 29 for Todd A. Surgeon, 29, arrested Saturday on charges he bilked six people out of $425,000 in an investment scheme in Las Vegas.

Senior Deputy Attorney General Matthew Gabe said Monday that Surgeon posted an undisclosed amount of bail and is free until his arraignment.

Surgeon, of Incline Village at Lake Tahoe, allegedly sold investors a number of common stock shares in Americana Corp., reported to be a leisure equipment and spa distribution company.

Gabe said Surgeon allegedly falsely informed potential investors he would personally buy back their shares of common stock for three times the purchase price within one year of the purchase date.

Gabe said Surgeon also broke the law by misrepresenting to investors that their money was risk free and guaranteed. And he failed to disclose to investors that the vice president of operations for Americana Corp. had previously been indicted for conspiracy, wire fraud and aiding and abetting.

If convicted, Surgeon could receive up to 35 years in prison and a fine. He could also be ordered to pay restitution to the investors.